The Toronto Stock Exchange (TSX) has rallied 20 percent since January, helped by a rebound in U.S. crude oil from a 12-year low.

Investor sentiment improves when oil is trading above $40 a barrel, said Barry Schwartz, portfolio manager at Baskin Financial Services, while a rallying Canadian dollar has signaled strength in the domestic economy, adding to support for the index.

The loonie reached a new nine-month high at C$1.2571, although ended only slightly higher after the Fed left the door open to a June rate hike.

Schwartz expects the index to “blow past” the 14,000 threshold that has capped the rally since January if the higher oil and Canadian dollar trend continues.

The TSX’s S&P/TSX composite index closed up 78.22 points, or 0.57 percent, at 13,887.66. Seven of the index’s 10 main groups ended higher.

Shares of Bombardier Inc rose 1 percent to C$2.01 after the company moved forward release of its first-quarter results by a day to Thursday in a surprise announcement that elevated market expectations of a big CSeries order this week.